I have 3 rental properties, all taking yearly loses. I am over the MAGI threshold so all loses were disallowed and carryforward.
I sold 1 property this year and TurboTax is making loses from all 3 properties allowable.
The loss reported on 1040 line 5 seems to combines the now allowable loss from property 1 AND the unallowable loss from property 2 and 3. I don't see any carryforward on the other rentals, as if sale of one made loses on all properties allowable. I don't believe this is accurate.
Appreciate any guidance.
